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the bill together. >> obama: i want to thank all of the leaders of the house and senate. in particular i want to thank the work that was done by my extraordinary vice president joe biden. >> bill: yeah, he and mitch mcconnell have known each other a long time and said come on let's get this done. i talked to some democrats who said that joe biden was on the hill yesterday meeting with house democrats. he was in there an hour talked to every one of them gave them the old sales pitch, and they said it was very very effective. the president said it wasn't as good as he wanted but for 98% of americans it was a good job. of course tom harkin from iowa in the senate, one of the two democratic votes against the bill. here he is. >> i'm disappointed to say in my opinion this legislation that we're about to vote on falls short. first, it does not address the number 1 priority creating good middle class jobs now. unemployment remains way too high. >> bill: but the senate did approve the measure 89-8 and the house last night again about 11:00 last night approved the house, 25
to pay down our nation's debt. the bill now goes to president obama for signature. back to you. >> thank you. >>> our other big story the weather this morning. it could be the coldest morning of the week. let's get a first look at weather with meteorologist lawrence karnow. >> we have some very dry air outside. temperatures plummetting right now. we have freeze warnings up in the north bay valleys. and frost advisories inside the bay in toward the santa clara valley so a cold start to the day. these temperatures running down in the 20s and some mid-30s. waking up to some widespread frost outside. if you are heading out the door this morning, grab your jacket. it is going to be chilly. temperatures right now 27 degrees in santa rosa. 30 in livermore. 34 degrees in san jose. and 30 degrees in the napa valley. only moderating as you approach the coastline, 45 into san francisco. high pressure giving us clear air and dry conditions. the storm track well to the north. that's going to play out over the next few days and chilly mornings ahead here. and then the temperatures by the afternoon gen
to be a victory for president obama. the bill allows for most of the things he talked about during his campaign. it will shield those earning less than $400,000 from seeing their taxes go up. it extends some of unemployment benefits as well. some members of congress say it does not go far enough and sets up another showdown over fiscal issues in 2013. others believe the country could not afford not to pass this bill. the president talked about all this right after the passage. >> thanks to the votes of democrats and republicans in congress, i will sign a law that raises taxes on the wealthiest to% while preventing a middle- class tax hike that could have sent the economy back into recession and at a severe -- and have a severe impact on families across america. >> the president said it will be a very busy 2013. the new congress will be sworn in later this week. there will be a number of issues they will have to tackle quickly. one thing this bill does not do is tackle the so-called dumping ceiling. the country will reach its borrowing limits in a matter of months if congress does not act. >> po
bills. tomorrow mr. obama warned he will not have a debate over this congress. >> someone gets swept out to see. this time a couple was out walking their dog when they were hit by a dangerous wave. cbs 5 reporter on the rescue and how it ended. >> a couple out for a new year's day walk got into serious trouble when they were hit by a sneaker wave. the woman and dog were knocked down. the man jumped in after them. this happened this after. >> while that was happening either the dog was trying to be rescued by the husband or he was trying to assist with her and he was swept out and they were unable to get him. >> the dog made it back to shore. the 59-year-old man did not. a witness said he tried to save him. he was floating about 80 yards off shore. >> we were going to throw a rope but we saw he wasn't reacting. >> the coast guard, marine county fire department launched a search. on a day with larger than normal waves and strong currents. >> the helicopter circled around very tight and low for quite a while. we were thinking wow, maybe we'll see them rescue somebody. but nope. >> at 4:00 t
in this fiscal cliff so down. the house gave final approval for a bill late tuesday night. >> president obama thanked congress and asked that future negotiations not involve much trauma. --drama. >> they finally got it done. congress and the along from all over the fiscal cliff, with house republicans reluctantly passing the senate bill. >> i will sign a law that raises taxes on the wealthiest 2% of americans while preventing a middle-class tax hike that could have sent the economy back into recession. >> it appears the bill was headed for defeat. house republicans did not want to raise taxes without significant cuts in government spending. >> there are no spending cuts. we are adding $4 billion a day to the debt and we fell ilk -- feel like the senate bill failed miserably. >> they decided not to drag out the fight in the longer and risks taking the blame for massive tax hikes for nearly a met -- for nearly every american worker. >> what is the alternative? >> the bill shields those earning less than $400,000 a year from tax increases and extend unemployment benefits. it does not raise the
commentary on election night, quote, a couple of hours before president obama was declared the vick toy bill o'reilly offered his explanation why mitt romney was about to lose because it's a changing country it's not a traditional america anymore. in case anyone might be confused about the meaning of traditional, he elaborated, white establishment is now minority. in other words, the problem was too many voters of color. how vile. how vile. in other words, you pinheads have no right to lie about me by putting fabricated words in my mouth. that's not what i said. you disgrace the journalism industry. you seek to demonize anyone who disagrees with your far left view. am i being clear enough? the white establishment no longer dominates the political field in america. that is crystal clear. i don't lament that. i'm not pining for a return to calvin coolidge, i just reported it, but for crazed ideologues, that's inconsequence. they summed up saying, quote, it's encouraging that many republicans are repudiating and contemptuous, contemptible o'reilly-mitt romney world view. here is what's really c
of folks quite as much. >> obama suggested he would sign the bill, but he suggested lawmakers would need to revisit their discussions to bring down the federal deficit. >>> the efforts to avoid the fiscal cliff in the u.s. gave asian markets a boost. share prices gained ground in the first trading session of the year. the hong kong stock exchange saw many buy orders after it opened on wednesday. the key hang seng index closed 2.9% higher than it did on december 31st and even surpassed last year's high the benchmark index in south korea rose 1.7% from the 2012 closing. and the main index in singapore gained 1.1%. analysts tell nhk investors can be comparatively optimistic about asian markets this year because china's economy shows signs of picking up and fiscal problems in the u.s. have been averted for now. >>> japanese prime minister shinzo abe will face challenges. abe will visit the united states at an early date to meet president obama so he can build a relationship of trust with him. the prime minister wants to confirm with obama that the realignment of u.s. forces in japan should s
to pay down our nation's debt. the bill now goes to president obama for his signature. back to you. >> thank you. >>> most overseas stock markets jumped higher today on news that the u.s. "fiscal cliff" has been averted. here's the kospi stock exchange in korea celebrating its first trading day in 2013 it finished up today, as did hong kong, germany, australia, britain and france finishing up. the new year's first day of trading in the u.s. set to begin in an hour and a half. >>> the house stayed late to pass the "fiscal cliff" package but members left without agreeing on federal aid for victims of hurricane sandy. the senate already okayed the $60 billion measure. new congress will be sworn in tomorrow. >>> well, on weather news it's freezing out there this morning literally and we have cbs 5 reporter anne makovec feeling the freeze in san rafael. good morning, anne. >> reporter: i have been watching the temperature here behind me at this bank in san rafael. it's below zero, elizabeth, celsius at least. 26 degrees fahrenheit right now. a freeze warning in effect for the north bay
,000 a year more taken from their paycheck. >>> the bill headed to president obama also contains a provision of averting the so-called dairy cliff. the legislation extends part of the 2008 farm bill through september. an expiration of federal dairy programs could have resulted in milk prices doubling within a few weeks. but it appears the house will not vote on a measure for providing aid to victims of hurricane sandy. the senate passed a $60 billion on friday, but house leaders say they have abandoned a vote on a smaller aid package. more than $2 billion in federal funds has been spend on superstorm relief efforts. >>> and hundreds of thousands of minimum wage workers are seeing a bump in their paycheck. on tuesday, ten states raised their minimum wage levels. the adjustments were automatic in nine of those states resulting in an average minimum wa wage of $8.12 an hour. washington state has the largest increase at $9.19 an hour. terrell, it's also good to see them getting an increase. >> i was about to say. giving us a bit of good news for a change. ashley morrison here in new york. >>> hi
voted 256 to 167 in favor of the bill to stop middle class tax increases. soon after, president obama reacted to the compromised bill. >> under this law, more than 98% of americans and 97% of small businesses will not see their income taxes go up. millions of families will continue to receive tax credits to help raise their kids and send them to college. companies will continue to receive tax credits for the research they do, the investments they make and the clean energy jobs they create. 2 million americans are out of work with, but out there looking and pounding the pavement every day will continue to receive unemployment benefits as long as they're actively looking for a job. i'm very open to compromise. i agree with democrats and republicans that the aging population and the rising cost of health care makes medicare the biggest contributor to our deficit. i believe we have to find ways to reform that program without hurting seniors who count on it to survive. and i believe that there's further unnecessary spending in government that we can eliminate. but we can't simply cut our w
president obama will sign the bill. this was a lot of pressure today. if there was no agreement before a new congress takes office thursday negotiations would have had to start all over. after closed door meetings this was a vote on the fiscal cliff compromise a by partisan senate overwhelmingly passed last night. >> we have listened to the american people, we have heeded their call once again to work together in a by partisan way. >> reporter: president obama spoke minutes after the vote. one thing i think hopefully in the new year we can focus on is seeing if we can put a package like this together with less drama, a little less brinksmanship, not scare the heck out of folks quite so much. >> reporter: eric cantor voted no on the compromise. he dropped efforts to amanned the bill to add more spending cuts after failing to get enough fellow republicans to agree. >> the senate bill failed in cutting spending. >> this is unacceptable. >> reporter: the compromise makes bush era tax cuts permanent for individuals who make less than $400,000 a year and families who earn under $450,000 a year. pr
ramps. soon after president obama reacted to the compromise bill. >> under this law, more than 98% of americans and 97% of small businesses will not see their income taxes go up. millions of families will have continued to receive tax credits to help raise their kids and send them to college. companies will continue to receive tax credits for the research they do, the investments they make and the clean energy jobs that they create. and 2 million americans who are out of work but out there looking, pounding the pavement every day, are going to continue to receive unemployment benefits as long as they're actively looking for a job. i am very open to compromise. i agree with democrats and republicans that the aging population and the rising cost of health care makes medicare the biggest contributor to our deficit. i believe we've got to find ways to reform that program without hurting seniors who count on it to survive. and i believe that there's further unnecessary spending in government that we can eliminate. but we can't simply cut our way to prosperity. i will not have another d
on the borrowing limit. >> we can't not pay bills that we have already incurred. >> president obama said if congress refuses to raise the debt ceiling the consequences for the global economy would be catastrophic far worse than any fiscal cliff. >>> another high profile vote could come towed. this morning president obama told house republicans they should vote now on hurricane sandy aid, quote, without delay. this has new york lawmakers chastised house republicans for deciding to put the vote off for a few months. people in the region are still trying to recover with the worst winter months still ahead. the senate approved a $60 billion measure friday while a house committee drafted a bill about half that size. >>> students from sandy hook elementary got a sneak peek at the campus where they will go back to school tomorrow. an open house was held this morning at a school in nearby monroe. they have refurbished it and making the classrooms look just like those in sandy hooks. they brought in desks and backpacks to make the kids feel at home. >> prince william had to go away from his famil
the deep spending cuts necessary to pay down our nation's debt. and the bill now heads to president obama for his signature. terrell? >> tara mergener in washington this morning. thank you so much. >>> still the measure passed with bipartisan support. the deal die provided the leadership in the house. speaker john boehner and paul ryan voted yes, but house majority leader eric cantor who led a brief last-minute charge against the deal and kevin mccarthy voted no. earlier i had a chance to visit to politico's congressional reporter. we talked about how the bill got through the house and the political ramifications of sealing the deal. hughes republicans were earlier considering a deal with more spending cuts. it was different than what the senate passed. what ended up happening? kwhie did republicans change their minds? >> basically they knew if they tried to make any changes that the senate had already sent over to them it would greatly prevent getting it done. harry reid, the senate majority leader said it's going to be very, very tough. a lot of them were tired. the senators were alread
. >> that this president barack obama making comments after congress sent him a fiscal cliff bill. we are >> congress sent president barack obama adults avoid the fiscal cliff. it passed overwhelmingly in the u.s. senate. it passed the house by a 40 vote margin. it rolls back tax hike on the middle class and raise taxes on the wealthy and delayed those massive spending cuts for another two months. it was an easy road to get here. these initiations dragged on for quite some time. the president spoke a few minutes ago. he thanked joe biden and the house democratic leader that the policy and the republican leader in the u.s. senate, mitch mcconnell, for making this happen. he called this a domestic process. he said nobody is really happy 100% with the deal but it was not enough time for a larger deal. he also said he is taking another hard-line in the upcoming fight over the debt and selling. he warned congressional republicans it would be a tough fight. as gerry sandusky said, the yeas have it, . >> another look of the 7 day forecast. nothing to talk about there. really quite weather the next several days.
the board spending cuts. >> the bill is now on its way to president obama who is expected to sign the bill into law. fox 5's melanie alwick is live on capitol hill this morning with a closer look at the deal. melany. >>reporter: wisdom, you know, it was definitely a nailbiter all day here on capitol hill, despite the bipartisan approval in the senate early on new year's day, passage in the house was definitely not certain, and as the evening wore on, hill watchers were starting to get a little nervous. it was literally the 11th hour, 11:00 last night when house speaker john boehner finally put the senate version up for a vote. it passed 257-167 with mostly democratic support. for much of the day house republicans argued over whether to change the bill by tacking on spending cuts and send it back to the senate. senate leaders warned that would blow apart the entire deal. now, the bill means that taxes will only go up on americans making $400,000, couples making $450,000 and that's fewer people than president obama initially wanted. it also extends long-term unemployment benefits, fixes the
:30 this afternoon. we understand president obama will electronically sign the bill. the first president to use the autotoe pen. the third time he is doing it. cleared by the council's office. >> bret: mike, thank you. if you want a breakdown of what is in the fiscal bill check out wendell goler's piece on the foxnews.com/specialreport. republicans hoping to pick up a legislative win after the fiscal cliff deal has been eyeing the debt ceiling as the next potential arena for spending cut fight. the president is not putting on his boxing gloves yet. chief white house correspondent ed henry explains. >> just hours after popping up in the white house briefing room to tout a big victory -- >> tonight's agreement further reduces the deficit raising $620 billion in revenue. from the wealthiest households in america. >> president obama was at it again today. with a campaign style video sent out on obama-biden letterhead. even though the nonpartisan congressional budget office says the fiscal cliff deal will add $4 trillion to the national debt over the next ten years. >> any agreement we reach this we
the bill to president obama who is expected to sign it into law. in new york, lauren green, fox news. >> and after days of dealing with the fiscal cliff negotiations, president obama will return to hawaii to finish his vacation. the president left late last night. the obamas began their annual end-of-the-year vacation back on december 21th, but mr. obama was forced to return to the white house last week for fiscal cliff talks. the obama family returns to the white house this weekend. >>> taking a look at some of the big stories now, classes will resume this morning for students and teachers at sandy hook elementary who survived last month's tragic shooting. classes will be held in another building near the school in newtown, connecticut. experts say it is important for children to get back into some sort of a routine and for teachers and parents to offer some reassurance. 20 children and six adults were killed at the school back on december 14th. >>> schools across the nation continue to evaluate their security procedures following the connecticut school shooting. in staffford count
issues? so much of his capital will be used on the debt limit, the funding bill. can president obama break this republican fever? >> i'm hoping that, though i will say the most far reaching health care bill since medicare and the most significant financial reform since the new deal, along with some other bills that we passed, the repeal of don't ask/don't tell, he already has a significant legacy in terms of legislative achievement. beyond that the key question is this -- we'll see it in the debt limit -- the republican party in the house dominated by extremists in the tea party was at war with itself yesterday where every hour they were switching their positions. there was enormous pressure by the financial community and others in the business funded that. i know there is a little bit of buyer's remorse on the part of some of those people who helped the republicans hold the house when it comes to, for instance, not raising the debt limit, which would be such an unnecessary disaster for the economy. so this is the question. i think there is a very real chance that mainstream conserva
-minute stand off before march 1. president obama vowed to sign the bill. the vote was not unanimous. many republicans in the g.o.p.-led house voted against the bill. many of them argued it does not do enough to curve spending. it saw more bipartisan support in the senate with only a handful of lawmakers in both parties voting "no." the debate was quite intense. mike emanuel is live on capitol hill where he has been following it. the bill had the votes to pass. what was the final pitch? >>reporter: extending the bush tax cuts for individuals making up to $400,000 and couples making up to $450,000, giving certainty and some permanence and avoiding taking the economy off the fiscal cliff. >> by making republican tax cuts permanent, we are a step closer to comprehensive tax reform that strengthens our economy and creates more and higher paychecks for american workers. >> compromise is not the art of perfection. by its definition, compromise contains elements that neither side likes. it also contains pieces both sides can embrace. >>reporter: democrats embraced more with 172 of the 257 votes c
the fiscal cliff bill and president obama is thanking congress for passing it. but when he spoke late last night, he said he hopes for less drama in the future. >> there's looft work still to be done -- lot of work still to be done. now the bill heads to the president for his signature. surae chinn is live on capitol hill with more on where we stand now. we have plenty left to do. good morning, surae. >> reporter: that's right. good morning to you, mike and andrea. it's not as big of a financial package as some lawmakers would have liked but a deal is a deal. in the end the house did end up approving the senate fiscal bill around 11:00 last night by a margin of 257-167 opposing votes. and some consider this a political victory for the president that comes one day after the fiscal cliff deadline. but the deal will work retroactively to extend the bush era tax rates for most americans. it is what he campaigned on to raise taxes on the wealthiest. the bill raises income taxes for individuals earning $400,000 a year and families earning $450,000. it includes an extension of unemployment benefi
of the fire is still under investigation. >> president obama is thinking congress for passing a bill that prevents us from going over the fiscal cliff. it stops a middle-class tax hike and raises taxes on the wealthiest americans. the house approved a bill last night and the senate approved a bill tuesday morning. but the bipartisan bickering continues. after passing the bill, one very important piece of legislation was not touched -- a $60 billion aid package for victims of super stormed sandy. the house agree to hold a vote by january 15 but it comes one day after finger-pointing and outrage from lawmakers. >> it is a lashing and tough- talking chris christie is known for only the time it is a fellow republican his railing against. >> i called the speaker four times last night after 11:20 and he did not take my calls. >> publicly bashing john boehner, chris christie and others from the hard-hit areas of new york and new jersey did not hold back of the house's failure to vote on the sandy relief package last night. >> we cannot believe this knife in the back was delivered t
of the woods yet. >> president obama said the agreement fell short of what both sides wanted but that it was the right thing to do for the country. >> senators passed the bill with 89-8. after months of wrangling, lawmakers ended their deadlock. >> i know i can speak for my conference when i say we don't think taxes should go up on anyone. but if we knew if we did nothing they would be going up on everyone. >> the bill heads to the republican controlled house of representatives and could come to a vote later today but it is far from certain that it will pass. president obama urged members to back the deal though it falls short of what he originally sought. >> my preference would have been to solve all of the problems in the context of a larger agreement, bigger deal, a grand bargain, whatever you want to call it that solves our deficit problems in a responsible way. does not just deal with the taxes but deals with the spending so that we can put it behind us and focus on just growing our economy. >> the plan would permanently raise taxes on households making more than $450,00
on when president obama will sign the bill. here's some provisions -- a permanent extension of previous tax cuts for all taxpayers except individuals making more than $400,000 a year or couples making more than $450,000. the bill continues unemployment benefits for the long-term jobless for another year. it postpones decisions on controversial spending cuts for two months as well as the debt ceiling and current federal budget. more debate expected ahead and more possible fiscal cliffs that the government will have to deal with. >> the u.s. stock exchanges are reacting to the deal in a very positive way. the dow is currently up 261 points, at 13,365. that's exactly 2% up. the nasdaq is up 2.5%, up 77. s&p is also up, 29. asia markets were the first to re-- first to the react. hong kong closed with a nearly 3%. south korea, 1.7. australia and taiwan were 1% on the news and european markets have been up all day. >>> 7:07. even though congress took action to avert income tax hikes on most americans, your paycheck will still get smaller in 2013. ktvu's janine de la vega is in san jose right
this morning, a bill to avert the fiscal cliff awaits president obama's john hancock. around 11:00 p.m. eastern last night, the republican-led house gave final approval to a deal that will raise taxes on the wealthiest americans, and postponing the automatic spending cuts for two months. the package, which would be signed by the president as early as today preserves the bush era tax cuts for individuals who earn less than $400,000 a year and households earning less than $450,000. it extends unemployment benefits for a year and does not do a bunch of other stuff. it passed by a comfortable margin but only because a majority of yes votes came from democrats. 172 democrats voted in favor. 16 opposed. 151 republicans voted against the bill. only 85 voted in favor. in recent years, republican speakers of the house refused to bring bills to the floor unless they got a majority support from republicans. speaker john boehner of ohio violated that longstanding rule last night and in the process he became the only member of the leadership of his party who voted in favor of the bill. eric cantor and kevin
are put n hold foo tto months. thee house will now send the bill to president obama... who is a new congress will be sworn many marylanders are now trying to figure out hhw they'll be affeeted by what's going on in wwshington.one tax taxpayers should contact their preparers as soon as possible...to ffnd out how they'll be impacted by all the changes both this year... and in 20-12. (prioleau) "if a person has from selling stock, then yourr tax preparrr will need to see that in order to prepare your 2212 tax returnss" tax advisors say all the confusion from washington could delay refund checcs this year. that brings us to ur question the deal lawmakers reached tt avoid the fiscal cliff? we'll take your calls in our 7 o'clock hhur. you can also go to fox-baltimore dot com and tell us what you ttink... sounn off through facebook or send us a tweet.. at foxbaltimore. por tonight following the nnee death of a man... found shot ann killed outssde a glen &pburnie taveen. tavern.people are expected to gather at six 'clock in front whereepolice found the body f sir keith english q
early this morning, president obama urged congress to raise it. >> we cannot not pay bills that have already been incurred. if congress refuses to give the united states government the ability to pay the bills on time, the consequences for the entire global economy will be catastrophic. >> no word yet on when the president will sign the new bill. technically it was a day late, but the markets reopened this morning. from washington, i am tracy potts. >> reaching a deal on the fiscal cliff has not -- lawmakers on both sides of the aisle are pressing outrage after it the house adjourned without a vote on a bill providing aid to victims of superstorm sandy. representatives from both parties are calling ending the term without a vote inexcusable. >> absolutely inexcusable, indefensible. >> some lawmakers are suggesting the decision to forgo the vote was made because the affected areas are in blue states. >> we started this morning with a little bit of cloud cover. we have mostly sunny skies now. the wind shifting to the north, and it will be chilly the next couple of days. 35 at the airpo
vote the u.s. house passes a bill on the fiscal cliff. president obama warns he doesn't want to go to the brink over the next fight over the debt ceiling. >> i will not have another debate with this congress over whether or not they should pay the bills that they've already racked up through the laws that they passed. >> that budget deal boosts sabre an equity. stocks in hong kong and australia hit 19-month highs in the first trading session of the year. european cheered the deal despite more gloom from the eurozone where manufacturing activity has continued to contract. that was manufacturing pmi. we have similar figures out of the u.k. now. u.k. manufacturing pmi surprisingly up to 51.4, the highest since september. it's from a revised 49.2 in november. much better than the 49.1 poll. sterling already up strong against the dollar this morning. we'll see whether it gets another kick. there the output index 54 in december. the highest since april, 2011. it's 50.5 in november. so manufacturing or factory activity jumping unexpectedly. now going its fastest pace since september, 2011
president failed to meet thei obligation, their own statee ooligation whicc as to brrng us a balanced bill. one that also had spendinggcutss this one ffils at thaa and faiis badly. president obama pprisedd agreement that protects the miidle class. thanks to the votes of democrats nd republicans in congress, i will sign a law that raises americans whiieepreventing a middle-class tax hike that could have sent the economy back into recession and obviously had severe impact on famiiies alllacross america. but middle class financial hht ii 20-13. they won't pay higher income taxes but hey will have tooppy at least two-percenttmore in payrollltaxxs. that means most of the country's 60 million workers will seeesmaller paycheeks this year..i'm martha shade reporting lawmakers were under a tight deadline to pass the fiscal cliff measure. a new congress will be sworn in tomorrow many marylanders are now trying to figure ouu how going on in washington.one tax advisor wee poke to says taxpayers should contact their preparers as soonnas possiile...to find out how they'll be impacted by ll the in 20-12
early this morning president obama urmged congress to raise it. >> we can't not pay bills that we already incurred. if congress refuses to give the united states government the ability to pay these bills on time, the consequences for the entire global economy would be catastroph catastrophic. >> reporter: no word when the president will sign the bill so in the end it was one day late but just in time for nervous veshz as markets re-opened this morning. tracie potts, nbc news, washington. >> investors appear to be reacting positively to the deal. the dow is up 2%. nasdaq up 2.5%. markets in asia and europe were also up today. >>> your taxes are still about to go up. a 2% payroll tax cut just expired. that means you'll be paying about $1,000 a year more in taxs if you make $50,000 a year. economists warn that could slow the country's economic growth but as much as .07% in the coming year. on the flip side the tax cut cost the government about $125 billion a year. >> this congressional term is not ending without controversy. >> but i am deeply disappointed, mr. speaker, and the peopl
the bill has passed the house, it is headed to president obama's desk, who has said that he will sign into law. we are expected to hear from some of the house members in minutes and possibly see president obama make a statement. >> as soon as the fiscal cliff fix hit the house floor resistance from republicans was in place. >> because of what we are not doing, i cannot believe that this tax cut will be followed with spending cuts to offset any part of the $4 trillion we are putting on the backs of future generations. i thank all of you will vote for it. i cannot bring myself to. >> in the early -- in the early morning hours, the bill went through the senate and house members were called in for a vote. >> i believe we will come together with a strong vote. >> it has been republicans without spending cuts. if only raises taxes on individuals raising taxes more than $400,000. the lack of spending cuts left republicans irate. >> we have to somewhat address spending. we are always kicking the can down the road. >> it fails to address the threat facing our country. >> house republicans decl
.org, the war and peace report. i'm amy goodman. president obama is expected to sign the bill to deter the brunt of tax hikes and spending cuts known as the fiscal cliff that took effect at midnight yesterday. the compromise bill passed by the house late tuesday makes bush tax cuts permanent for about 99% of households. it allows tax increases of about 5% only on incomes above $400,000 for individuals or $450,000 for couples. the deal extends unemployment benefits, renews tax credits geared toward low-income families, and delays automatic cuts for military and other spending for two months. president obama compromised on the tax issue after initially backing increases on family incomes of more than $250,000. speaking tuesday at the white house, obama claimed the deal is a victory. >> the central premise of my campaign for president was to change the tax code that was too skewed toward the wealthy and the expense of working middle class americans. tonight, we have done that. thanks to the votes of democrats and republicans in congress, i will sign a law that raises taxi -- taxes on the wealthiest
just all fit. >> those exercises we were doing earlier. the butter churn. >>> president obama says he will sign the bill that pulled the nation back up from the fiscal cliff. last night a divided house vote diverted income tax hikes for most persons but delayed decisions on spending cuts. congress now needs to raise the debt ceiling, he says, so the government can keep paying its bills. if not, he says the consequences could be far worse than the impact of the fiscal cliff. >>> secretary of state hillary rodham clinton will fully recov recover, doctors are confident, from a blood clot in her head. she is said to be in good spirits and making excellent progress. the blood clot behind her right ear formed after a concussion from a fall. >>> justin bieber's sports car. he was not in the car at the time. the photographer was struck by another vehicle as he returned to his own car. officials say no charges are expected against the driver who hit him. >>> today an open house is being held in connecticut at a repurpose school for survivors of last month's sandy hook elementary massacre. teac
eric cantor the number 2 ranking house member voted against the bill because it didn't address spending. >> what we're doing is raising taxes to give the president more money to spend. >> reporter: president obama has promised to work with congress to find more spending cuts in the future. but he urged them not to play politics with the nation's debt limit. >> i will not have another debate with this congress other than over whether they should pay the bills they have already racked up. >> reporter: the country is just a few months away from defaulting on their loans for the first too many in history. >> it would be catastrophic, far worse than the "fiscal cliff." >> reporter: many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. tara mergener for cbs news, washington. >>> after his address, president obama returned to hawaii to finish his vacation and will sign the bill there. >>> most overseas stock markets rose on news of the u.s. "fiscal cliff" has been averted. the kospi stock exch
to be hillary clinton supported by bill clinton and presumably a relatively still popular president barack obama, trying to win that will truly be the super bowl. and the republican party today, was incapable of competing at that level. >> and certainly, the republican party hasn't helped himself since newt gingrich said what he said. joan walsh? >> no, she's a very, very formidable candidate, you and i both know that. so there's an element here where, let's say, the craziness has really been on the far right. john bolton is not a mainstream figure in anyway. although i guess president bush tried to make him one. i would like to see kathleen parker had a great piece in the washington post this morning calling people out for their craziness. i'd like to see more mainstream republicans the same. the more this is talked about, the more it can me tatasticize. >> i think it's a problem not just with conservatives, but i criticize people that said about bush 41 that he should die a miserable death when he was in the i.c.u. >> i'm sorry, lauren. these people are going on fox news and saying that did yo
cuts the desk of president obama. house passed a bill last night. the senate passed the senate earlier on tuesday. newschannel it will have more live in thata in just a few minutes. let's get the latest on our wednesday morning commute. we are trying to get back the group on a wednesday morning. this is video taken about 45 minutes ago on 66. everything was cleared off to shoulder on eastbound 66 but about a five-mile line near the fairfax county parkway. was an earlier crash. we also had one of westbound. this is 395 where there is no delay. in some spots, we are catching a break. we haveing the weather, conditions to start this morning, 35 degrees but we will move a lot from where we are now. the cooler temperatures are to the north. the cooler temperatures are to the north. we will turkey sausage. turkey what? amazing. dunkin's new turkey sausage breakfast sandwich. surprisingly great sausage taste with under 400 calories. try one today. america runs on dunkin'. ♪ >>> all that jumping going on. we're jumpstarting january, right here in times square. we're getting a whole bunch of
obama speaking about the passage of the fiscal cliff bill, raising taxes on what he says are the top 2% earners in the united states, and now back to his vacation in hawaii getting a couple of days break. we'll take a break and be right back. ...so as you can see, geico's customer satisfaction is at 97%. mmmm tasty. and cut! very good. people are always asking me how we make these geico adverts. so we're taking you behind the scenes. this coffee cup, for example, is computer animated. it's not real. geico's customer satisfaction is quite real though. this computer-animated coffee tastes dreadful. geico. 15 minutes could save you 15 % or more on car insurance. someone get me a latte will ya, please?
really like the deal. when you talk to republicans, they say president obama has imposed his will on us. we had to agree. this is very bad. he broke our party unity. some of the republicans passed the bill, others opposed it. it is very interesting when you talk to democrats. they do not like this compromise. they say that -- especially progressive democrats. they say that once president obama promise that everyone would have to pay higher taxes who was earning more than $250,000, but now it is more than $400,000, so he did not keep his promise. >> this was not the only deadline. what can we expect later this year? >> we will expect even more trauma -- drama. i think the next battle is going to be how to raise the debt ceiling. president obama said he is not willing to talk about that, he is not willing to compromise on that. i think this is wishful thinking. he asked to do that because the congress has to agree on that and the republicans -- he has passed to do that -- he has to do that because the congress has to agree on that. >> to find out how global exchanges have responded, we wi
minutes. 3 its official... the houss has ppssed a bill to avoid the fiscal cliff and its on its way to president obama who says he will siinnit. wendell goler explains what's inside the legislation. p3 p------------------------------- -------------------------------- -------------------------------- naas "(measure passes, deal passed with ovvrwhelming ...extending the buss eraatax cuts for amilies making less than $450 thousand dollars a yyar and maaiig the lower rates permanent, sooething... ...former president bush because he wasn't ble to get 2/3's of the ssnate to go allng. that part most republicans are happy with. ffeming says it made some thingsspermanent...permanent fix toothe amt....some things do like." ...the deal hhving to ay the alternative miiimum tax, by indexing it to the death tax 5% but extempts &pindividual estates... ..and $10 million for family estates like farms. backkto 6..%, a 2% increase ll phicc will cost a worrer making $110k year about $2k more. on the spending term unemployment enefits for another year. democcats had "it'ssc
administration, continuing with obama stimulating both, getting banks back on track. bill: you heard tucker said. it doubled since this administration. >> it doubled because of need to continue these policies and to stimulate the economy. now that you spend it in order to --. bill: stimulus. health care? >> here is one sentence point, alan, nobody can defend this level of debt. it is poison future growth. everybody understands that. what is the plan to curtail future spending? you can't balance this budget on backs of top 2%. we learned that, about to learn it in concrete terms. >> back of lower 98% either. certainly lower five to 10% who can barely afford to pay their bills month to month. bill: so you raise taxes and try to figure out how big the shovel needs to be? >> you get out of wars. crows military bases around the world. number of things we can do. let's get out of afghanistan. bill: what is incredibly absent debate. no one told how the deal would create jobs an economy and make it stronger. tucker, thank you. alan, thanks to you as well. >> thank you, bill. bill: to our viewers at home
to a conclusion and pass the bill. >> reporter: in a statement from the white house, president obama urged boehner to change his mind. following an afternoon meeting with republican members from new york and new jersey, boehner did change a bit, and promised to have a vote on the $60 billion relief package by january 15th, which for the louder complainers was enough. >>> taking a live look outside now, hey, if you've got outside, you know this is one of the coldest days we've had since last winter. what does that mean for us tonight? >> meteorologist veronica johnson has the answer. >> it's going to drop even lower tonight. so we've got to look back where we were this morning. during the overnight period, take a look, the temperatures started out this morning at 32 degrees. many neighborhoods, great falls, mclain, even up north at 32 to start, 32 also over in charles county. or down in charles county and waldorf, maryland. depending on where you are, the temperature by tomorrow morning will some 7 to 12 degrees lower. with that, we are going to see a mostly clear sky across our area, trapped with
the government overspending. >> and the debt ceiling. president obama urged congress to raise it. >> we cannot not pay bills that we have already incurred. the consequences for the global economy would be catastrophic. >> no word when the president will sign the new bill. it was just in time for nervous investors as markets reopen this morning. tracie potts, wbal-tv 11 news. >> police are investigating two new year's days shootings. what happened on caroline street. a man was shot in the abdomen. police investigating a separate shooting in northwest baltimore that happened after 4:00 p.m. near druid hill avenue. a man was suffering a gunshot wound to the shoulder. >> for many, ringing in the new year was cause for celebration. there was a big party at a hotel that prompted three calls. jennifer franciotti has more details. i understand this ran the gamut of incidents. >> their credit been too many people. overnight, they answered three separate calls for a stabbing, a fight, and some kind of drug overdose. partygoers report having a great time at the atrium. there were about 1000 people at thi
president obama will sign it, but there is a deal to avoid the fiscal cliff. the house passed the bill last night. as he tells us it leaves a lot to be desired. >> they finally got it done. congress ended the long drama over the fiscal cliff with house republicans rereluctant and thely passing the senate bill. >> i will sign the bill that raises taxes on wealthiest americans. >> for a time it appeared the bill was head forward defeat. >> i do not support the bill. >> house republicans did not want to raise taxes without significant cuts in government spending. >> there is no spending cuts. we're adding $4 billion a day to the debt. we feel like the senate bill failed. >> but republicans did not want to drag out the fight any longer and risk essentially taking the blame for massive tax hikes. >> what is the alternative? the alternative is $4 trillion of tax hikes to hit the american people. >> people earning less $400,000 shields them from tax increases and extends unemployment benefits. what it does not do is raise the debt ceiling. in two months the government will reach its limit on borro
to pass this bill. it never should have happened this way. i commend president obama and vice president biden for protecting in a class with this and doing the best that they can, but my friends and my colleagues, we're going to have to work to meet in a sensible center. we are going to have to not ladies brinksmanship gains. the american people do not want it. president obama won reelection campaigning for the middle- class. this keeps those parties and we ought to support it. >> the gentleman from michigan, mr. camp, continues to reserve. >> i now yield two minutes to danny davis, our colleague from illinois and soon to be joining us on ways and means. >> recognized for 2 minutes. >> thank you. i have never seen a compromise where everybody got everything that they wanted or liked everything that they got. i certainly do not like everything that i see in this bill. and i certainly did not get everything that i wanted. but i do like the fact that senior citizens can go to the doctors because they are being paid a reasonable rate. i do not like the fact that some of the health programs
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